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Citi Lowers Estimates And Target Price On Whole Foods

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Citi reported that it was lowering its estimates on Whole Foods Market (NASDAQ: WFM).

Citi analyst Gregory R. Badishkanian accredited the lowering due to Whole Foods Market posting a miss in same-store sales and earnings per share for the second-quarter of the 2014 fiscal-year.

Badishkanian lowered the target price to $41.00 from $55.00 and stated, "Given updated guidance and trends (including weaker than expected SSS and reduced EPS guidance), we lower our FY14-16 EPS ests by 9c, 19c, and 30c each, respectively. Lowering tgt px by $14 to reflect our lower EPS forecast and a lower target multiple."

Whole Foods Market shares were up 1.78 percent Wednesday and closed at $38.38.

Latest Ratings for WFM

DateFirmActionFromTo
May 2017Loop CapitalInitiates Coverage OnHold
May 2017Wells FargoUpgradesMarket PerformOutperform
May 2017Gordon HaskettInitiates Coverage OnBuy

View More Analyst Ratings for WFM
View the Latest Analyst Ratings

Posted-In: Citi Gregory R BadishanianAnalyst Color Price Target Analyst Ratings

 

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